A Payroll "Clearing Account" Is a Temporary Account That Holds

question 25

True/False

A payroll "clearing account" is a temporary account that holds payroll transactions until final accounting entries are prepared.

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Definitions:

Environment Factors

Elements in the external surroundings that can influence an organism's or entity's ability to thrive, including both natural and man-made conditions.

Balanced Scorecard

A strategic planning and management system used by organizations to communicate what they are trying to accomplish and to measure and align the performance of their resources.

Integrity Management

A framework for ensuring that organizational practices adhere to a set of ethical standards and principles.

Global Reporting Initiative

An international independent organization that helps businesses, governments, and other organizations understand and communicate their impacts on issues such as climate change, human rights, and corruption.